The largest component of aggregate expenditure is _____
a. government purchases
b. transfer payments
c. imports
d. consumption
e. investment
d
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A firm is producing a joint product, Product A and Product B, with variable proportions. At its current production levels, the marginal benefit of producing Product A is $2 and the marginal cost is $4 and the marginal benefit of producing Product B is $5 and the marginal cost is $3. To maximize profits, the managers of the firm should produce ________ of Product A and ________ of Product B.
A) more; more B) less; less C) less; more D) more; less
The cross-price elasticity of demand for peanut butter and jelly is likely:
A. a positive number. B. a very high positive number. C. a negative number. D. less than one.
According to the information in the table shown, if someone were to make $35,000, she would be able to buy the most goods and services if she lived in:
This table shows the price-level adjustment as compared to the United States.
A. Australia.
B. the United States.
C. Mexico.
D. China.
A pollution tax:
A. is a method used to internalize external costs. B. will not affect the price of the good being produced. C. does not affect the quantity of a good demanded. D. is a method used to externalize internal costs.